NPORT-EX 2 FDIV.htm NPORT-EX Document

MARKETDESK FOCUSED U.S. DIVIDEND ETF
SCHEDULE OF INVESTMENTS
October 31, 2024 (Unaudited)

COMMON STOCKS - 99.7%

Shares

Value
Advertising - 2.0%

Interpublic Group of Cos., Inc.

73,581 

$2,163,281 





Agricultural & Farm Machinery - 2.0%

Toro Co.

27,314 

2,198,231 





Agricultural Products & Services - 3.0%

Archer-Daniels-Midland Co.

39,633 

2,188,138 
Bunge Global SA

12,943 

1,087,471 




3,275,609 





Air Freight & Logistics - 3.0%

FedEx Corp.

4,016 

1,099,782 
United Parcel Service, Inc. - Class B

16,542 

2,217,620 




3,317,402 





Asset Management & Custody Banks - 2.0%

T Rowe Price Group, Inc.

19,765 

2,171,383 





Broadcasting - 1.0%

TEGNA, Inc.

65,904 

1,082,803 





Building Products - 2.0%

A O Smith Corp.

29,038 

2,180,754 





Cable & Satellite - 2.1%

Comcast Corp. - Class A

52,277 

2,282,937 





Commercial & Residential Mortgage Finance - 1.0%

Essent Group Ltd.

18,057 

1,083,601 





Commodity Chemicals - 2.0%

LyondellBasell Industries NV - Class A

25,420 

2,207,727 





Computer & Electronics Retail - 2.0%

Best Buy Co., Inc.

24,496 

2,215,173 





Consumer Staples Merchandise Retail - 4.1%

Dollar General Corp.

27,825 

2,227,113 
Target Corp.

14,892 

2,234,396 




4,461,509 







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MARKETDESK FOCUSED U.S. DIVIDEND ETF
SCHEDULE OF INVESTMENTS (CONTINUED)
October 31, 2024 (Unaudited)
COMMON STOCKS - 99.7% (CONTINUED)

Shares

Value
Distillers & Vintners - 1.0%

Brown-Forman Corp. - Class B

24,180 

$1,064,645 





Distributors - 3.0%

Genuine Parts Co.

19,002 

2,179,529 
LKQ Corp.

29,611 

1,089,389 




3,268,918 





Diversified Financial Services - 2.0%

Voya Financial, Inc.

27,212 

2,185,124 





Electrical Components & Equipment - 1.0%

Rockwell Automation, Inc.

4,121 

1,099,112 





Fertilizers & Agricultural Chemicals - 2.0%

CF Industries Holdings, Inc.

13,632 

1,120,959 
Mosaic Co.

40,983 

1,096,705 




2,217,664 





Food Distributors - 2.0%

Sysco Corp.

29,692 

2,225,415 





Footwear - 2.0%

NIKE, Inc. - Class B

28,772 

2,219,184 





Health Care Equipment - 2.0%

Abbott Laboratories

19,294 

2,187,361 





Health Care Supplies - 1.0%

Dentsply Sirona, Inc.

46,982 

1,088,573 





Home Improvement Retail - 1.0%

Home Depot, Inc.

2,799 

1,102,106 





Household Products - 3.0%

Kimberly-Clark Corp.

16,460 

2,208,603 
Procter & Gamble Co.

6,638 

1,096,465 




3,305,068 





Human Resource & Employment Services - 4.0%

Automatic Data Processing, Inc.

3,787 

1,095,352 
Korn Ferry

15,623 

1,103,765 


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MARKETDESK FOCUSED U.S. DIVIDEND ETF
SCHEDULE OF INVESTMENTS (CONTINUED)
October 31, 2024 (Unaudited)
COMMON STOCKS - 99.7% (CONTINUED)

Shares

Value
Human Resource & Employment Services - 4.0% (Continued)
Paychex, Inc.

7,845 

$1,093,043 
Robert Half, Inc.

16,017 

1,090,918 




4,383,078 





Independent Power Producers & Energy Traders - 1.0%

AES Corp.

66,818 

1,101,829 





Industrial Conglomerates - 2.0%

Honeywell International, Inc.

10,843 

2,230,188 





Industrial Machinery & Supplies & Components - 1.0%

Illinois Tool Works, Inc.

4,190 

1,094,135 





Integrated Oil & Gas - 1.0%

Chevron Corp.

7,451 

1,108,858 





Leisure Products - 1.9%

Brunswick Corp.

13,478 

1,074,736 
Polaris, Inc.

15,218 

1,063,890 




2,138,626 





Movies & Entertainment - 1.0%

Warner Music Group Corp. - Class A

34,375 

1,098,625 





Oil & Gas Exploration & Production - 5.0%

Chord Energy Corp.

8,760 

1,095,876 
Civitas Resources, Inc.

22,490 

1,097,287 
Matador Resources Co.

21,425 

1,116,457 
Northern Oil & Gas, Inc.

30,372 

1,100,985 
Ovintiv, Inc.

28,038 

1,099,089 




5,509,694 





Other Specialty Retail - 2.0%

Dick's Sporting Goods, Inc.

10,936 

2,140,722 





Packaged Foods & Meats - 10.0%

General Mills, Inc.

16,262 

1,106,141 
Hershey Co.

12,434 

2,208,030 
Hormel Foods Corp.

72,241 

2,206,963 
J M Smucker Co.

9,767 

1,108,652 


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MARKETDESK FOCUSED U.S. DIVIDEND ETF
SCHEDULE OF INVESTMENTS (CONTINUED)
October 31, 2024 (Unaudited)
COMMON STOCKS - 99.7% (CONTINUED)

Shares

Value
Packaged Foods & Meats - 10.0% (Continued)
Lamb Weston Holdings, Inc.

28,492 

$2,213,543 
Mondelez International, Inc. - Class A

31,654 

2,167,666 




11,010,995 





Paper & Plastic Packaging Products & Materials - 3.0%

Sealed Air Corp.

30,261 

1,094,843 
Sonoco Products Co.

42,295 

2,221,333 




3,316,176 





Pharmaceuticals - 4.0%

Johnson & Johnson

13,763 

2,200,153 
Merck & Co., Inc.

21,261 

2,175,426 




4,375,579 





Property & Casualty Insurance - 2.0%

American Financial Group, Inc.

16,973 

2,188,329 





Rail Transportation - 2.0%

Norfolk Southern Corp.

4,365 

1,093,127 
Union Pacific Corp.

4,756 

1,103,725 




2,196,852 





Reinsurance - 1.9%

Everest Group Ltd.

5,789 

2,058,626 





Semiconductors - 5.8%

Microchip Technology, Inc.

28,880 

2,118,926 
Qualcomm, Inc.

6,538 

1,064,190 
Skyworks Solutions, Inc.

24,507 

2,146,323 
Texas Instruments, Inc.

5,286 

1,073,904 




6,403,343 





Soft Drinks & Non-alcoholic Beverages - 2.0%

PepsiCo, Inc.

13,261 

2,202,387 





Specialty Chemicals - 3.9%

Ashland, Inc.

25,348 

2,143,680 
PPG Industries, Inc.

17,515 

2,180,793 




4,324,473 
TOTAL COMMON STOCKS (Cost $112,341,998)

109,486,095 







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MARKETDESK FOCUSED U.S. DIVIDEND ETF
SCHEDULE OF INVESTMENTS (CONTINUED)
October 31, 2024 (Unaudited)

SHORT-TERM INVESTMENTS - 0.3%
Shares

Values
Money Market Funds - 0.3%


 
First American Government Obligations Fund - Class X, 4.78% (a)

358,347 

$358,347 
TOTAL SHORT-TERM INVESTMENTS (Cost $358,347)

358,347 





TOTAL INVESTMENTS - 100.0% (Cost $112,700,345)

$109,844,442 
Other Assets in Excess of Liabilities - 0.0% (b)

40,172 
TOTAL NET ASSETS - 100.0%

 

$109,884,614 

Percentages are stated as a percent of net assets.

NV - Naamloze Vennootschap
SA - Sociedad Anónima

(a)
The rate shown represents the 7-day annualized effective yield as of October 31, 2024.
(b)
Represents less than 0.05% of net assets.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s Financial Services LLC (“S&P”). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.


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MARKETDESK FOCUSED U.S. DIVIDEND ETF

Summary of Fair Value Disclosure as of October 31, 2024 (Unaudited)

MarketDesk Focused U.S. Dividend ETF has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund’s securities as of October 31, 2024:

DESCRIPTIONLEVEL 1LEVEL 2LEVEL 3TOTAL
Assets
Common Stocks
$109,486,095 

$— $— 

$109,486,095 
Money Market Funds
358,347

— — 

358,347
Total Investments$109,844,442 

$— $— 

$109,844,442 
 
Refer to the Schedule of Investments for additional Information.

During the fiscal period ended October 31, 2024 . the Fund did not invest in any Level 3 investments and recognized no transfers to/from Level 3. Transfers between levels are recognized at the end of the reporting period.


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